The benchmark equity indices ended Tuesday’s trading session in the negative territory. The NSE Nifty 50 plunges 92.05 points or 0.42% to settle at 22,004.70, while the BSE Sensex dropped 361.64 points or 0.50% to 72,470.30. Bank Nifty index ended lower by 263.55 points or 0.56% to settle at 46,600.20.
The broader indices ended in mixed territory, with fall led by Large-cap and Small-cap stocks. Realty and Metal stocks outperformed among the other sectoral indices while Media and IT stocks shed.
Bajaj Finance Hindalco Industries, Adani Ports ans SEZ, Britannia Industries, and NTPC were the top gainers on the NSE Nifty 50, while the laggards includes Bharti Airtel, Power Grid Corp, Eicher Motors, Wipro, and Divis Lab.
The Indian Volatility Index (India VIX) closed up by 4.90 %.
“Aligned with global trends, the domestic market sustained its consolidation pattern, ending close to 22,000. While key data such as US GDP and inflation during the week may provide some clues on future rate cut paths, the fiscal year-ending truncated week, coupled with reduced trading volumes and monthly expiry, are likely to contribute to volatility,” said Vinod Nair, Head of Research at Geojit Financial Services
Nair also said that, Generally, midcaps are performing well post the consolidation of the last 2-3 weeks, while the IT sector continued to experience sluggishness following weak global IT spending forecasts.